Many newer businesses hit the market filled with big ideas and huge expectations, but more often than not, fall under the same spell that many young folks do in trying to define themselves. As Alan Watts aptly put, “Trying to define yourself is like biting your own teeth.” What does that mean? Well, the very thing that does the defining has essentially turned inward on itself. It’s the reason why when people are asked to describe themselves they become so uncomfortable. An effective marketing strategy keeps everything very simple.

Marketing Strategy 101: Keep It Simple, Stupid

As a newer company, you shouldn’t have very much to say about yourself. There are three maineffective marketing strategies. The luxury strategy, the fashion strategy, and the premium strategy. The luxury strategy is based on exclusivity and appeals to notions such as time, heritage, origin, tradition, craftsmanship, and what sets them above of the rest. The fashion strategy appeals to what is now, what is trending, what is hip, what is cool, and what is going to improve your social status. The premium strategy is primarily appealing to the quality of your product or service. You pay more because you’re better, even if you don’t charge significantly more for your products.

Marketing Strategy 101: Where New Businesses Go Wrong

There’s a natural tendency for newer businesses to want to say everything good that’s possible to say about a company about themselves. They want to instill confidence in their customers, but all they’re doing is overloading them with (often contradictory) information and mixed signals. Signs are all about keeping things simple. You want a logo that affects your company’s identity, and you want a slogan that instills confidence in your products or services. Most folks are going to remember one or two things about your pitch, and that’s it. They’ll invest very little of their memory space, so you want to make sure it’s worth their investment.

The vision of a business is the end goal, the finish line, the place you intend to go. This doesn’t even have to be the ultimate destination—it can simply be your next milestone. It’s like having a clear mile-marker while running a marathon.

Why is finding your mission as a business so important? Once you’ve decided on your product and honed in your primary values, your mission will guide what you do with your product and values. You mission will help you make the major business decisions you face along your journey towards success. Mission also tells your […]

Marketing is a critical component to your company's long-term success. While your industry may require niche marketing knowledge, the essentials of marketing remain the same for every business. Whether your industry is big or small, whether you have a small or large budget, marketing is the lifeblood of your business.